In partnership with OpenTap,your employer can bridge the cash crunch.

Short term personal loans from OpenTap.

About

OpenTap is working towards financially including blue collar workers whose salary ranges from INR 6K to INR 25K a month. They have little or no accumulated savings, and like others, have planned / unplanned financial requirements. Banks find this population commercially unviable, consequently the services offered by them are also very limited and in many cases, non-existent. As a result, this population unfortunately use their banks only to withdraw money. So, when an emergency knocks, they turn towards alternate sources of finance which are limited, unregulated and risky.

History

Three individuals with two things in common – Wall Street and a burning desire to do something for the not so inclusive section of the society, got together and incubated OpenTap.

For Lenders

OpenTap is not a financial institution regulated by RBI. OpenTap is a platform that operates as a marketplace to bring investors to lend to borrowers.

Hundreds of millions of creditworthy Indians have legitimate credit needs that are overlooked or underserved by the traditional banking and credit card companies. For customers who have a solid capability to repay, despite the low risk of lending to that pool of borrowers, the traditional banking sector has no product to offer.

OpenTap was seeded with an audacious dream of bringing these people into mainstream and giving impetus to the inclusivity dream. Be it inclusivity in education, access to technology / medical help, changed lifestyles or then simply, inclusivity in everyday scenarios.

We are working towards financial empowerment of the aspirational Indian sector. We believe that we can eventually bridge gaps in the current banking system and ween people away from expensive credit options. Consequently, we have become an alternate source of finance with fairly competitive interest rates.

We are looking for partners who believe in the inclusivity dream and who will help us build a better Tomorrow, together.

Any lending financial institution regulated by Reserve Bank of India can lend money through the OpenTap platform

For Employers

Customers who require a loan, furnish personal details along with electronic versions of required financial documents like bank statements, pay slips and ID proof. Loan processing is completely automated and the process begins as soon as the customer provides all the details.

When all documents are received, the loan application is parsed for initial verification and then passed on to the financial institution for final approval & disbursement.

Hundreds of millions of creditworthy Indians have legitimate credit needs that are overlooked or underserved by the traditional banking and credit card companies. For customers who have a solid capability to repay, despite the low risk of lending to that pool of borrowers, the traditional banking sector has no product to offer. Several of your employees fall into the same category – they are credit worthy, but are not entertained by banks.

When these employees are faced with emergencies, as an employer - you want to be able to help. But when the demand grows and the number of employees that need help increases, you find it difficult to cater to every single request.

In partnership with OpenTap, you can now bring those credit facilities to each and every one of your employees.

Testimonials

V. SELVARAJ

BANGALORE (INDIA)

"Since I work in a factory, in a shift mode, it is impossible to take time and go out for anything. Approaching a bank for a loan would mean that I have to apply for time away from work – and that is not possible. Since OpenTap's loan application and process was easy, I did not have to go away from my place of work, I preferred taking a loan from them."

AAZAD KUMAR YADAV

BANGALORE (INDIA)

"If we approach banks for a loan, the interest rates are higher and the entire process is very time consuming. Both these issues are taken care of with OpenTap. That’s one of the main reasons why I've taken a loan from them, and have talked about them to several of my friends as well."

DEVAKI DAMODARAN

CHENNAI (INDIA)

"I want to provide higher education for my children. School fees we could manage, but college fees was a challenge. We had to look at the option of taking a loan. With other sources, we end up paying 5 times more on just interest rates. In taking a loan from OpenTap, the money saved on lower interest rates is used elsewhere."

"My son will become the first engineer in the family, I am very proud…"

RAJESH KUMAR

BANGALORE (INDIA)

"Yes, we can take loans from banks. But unless we know someone there personally, the entire process is lengthy and cumbersome. OpenTap's quick and easy process made them the obvious choice. I keep telling my friends about them as well."

PUNEET KUMAR

BANGALORE (INDIA)

"There was a medical emergency that required immediate attention. Turning to banks for this help would have been near impossible. Was introduced to OpenTap, who offered very timely help. The process was quick and very simple – ever since, I've been referring them to others."

G. M. MUNIRAJAPPA

BANGALORE (INDIA)

"I did not know banks offer loans too. And I don’t have the time to go out and understand all this. We work in shifts,
so doing anything during work hours is very difficult."

Y. VENKATESWARA RAO

BANGALORE (INDIA)

"I took a loan from OpenTap because I needed money for the hospitalization of my mother. The process was online – easy and comfortable. I opted for OpenTap because of the short processing time as opposed to long and time consuming process with banks."

SANKET SHANTINATH BEDAKIHALE

BANGALORE (INDIA)

"I had applied for a loan from a bank. They said they will process it in 4 days. Even after a month passed by, nothing happened. So, I reached out to OpenTap. It’s a simple process, anyone can avail a loan. It was very useful for me during an emergency, am very grateful for this."

S. M. MURALIDHAR

BANGALORE (INDIA)

"I had initially applied for a bank loan. The process was lengthy and was delayed a lot. My friend then told me about OpenTap and said that they process loans quickly. So, I reached out to OpenTap."